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insurance premiums for customers down the road. here in new york city, commerce has been crippled. and power is not expected to be restored in many areas until next week. i.h.s. global predicts that if the a as affected by sandy lose a quarter of their output for just two days, it would knock out $25 billion off u.s. economic growth in the fourth quarter. that could be as much a 0.6%. but longer-term, some of the financial losses should be recovered by repair and rebuilding eorts. home improvement stores like home depot and lowes wngl likely get a boost in sales. many construction jobs will be created to rebuild homes and businesses. and governments will be spending huge amounts of money to repesr subways, roads, and bridges sor allf those efforts should help boost economic activity early next year.e erika miller, "n.b.r. new york. >> susie: joining us now for a closer look at sandy's economic impact, mark zandi, chiefb. economist at moody's analytics. you know, mark, people often hear that when there's a sdater like zandi, that it's actually a boost to the economy. is that going to be rue i
york city, new jersey, and long island are up and running. for those who do get gas, they'll pay more for it. gasoline prices in the northeast have increased as much as 14 cents a gallon. >> tom: 1.3 million people are still without power tonight, one week after superstorm sandy. and as susie mentioned, temperatures are plummeting, as anothestorm approaches the northeast. having no power and no heat is one concern. but thousands of peaple have also been left homeless by the storm, and that is fueling worries about a housing shortage. erika mieer reports.a >> repter: the new york city metropolitan area is slowlyep recovering after superstorm sandy. but many homes and businesses still don't have power, or heat. >> things that took months or years touild are gone, howui quickly we can get it back i'm not sure, but there will certainly be places that don't have por for a very long time.fo >> reporter: lack of power is more than just an inconvenience, it's also safety issue. temperatures have started hitting the low 30's, and a nor'easter is forecast later this week. so staying in unheated
. >> tom: still ahead, the new york city marathon is cancelled. what it means for advertisers of this world class event. that encouraging employment report didn't do much for stocks on wall street. stocks oped higher, but sellers took over.d the dow closed down 139 points, the nasdaq lost almost 38 points, the s&p closed off 13. for the week, the dow fell 0.1%. the nasdaq was down 0.2%. the s&p gained 0.2% this week. we'll talk more about the marts a little later in the program with our friday market monitor guest.ts he's duncan richardson at eaton vance. an update on the aftermath of hurricane sandy now. with temperatures dropping, tempers are flaring in some areas struggling with no per and dwindling food and clean water. >> this is staten island. four days after hurricane sandy brought her destructive winds ng storm surge of atlantic seawater. across the hudson river from new york, some new jersey neighborhoods remain inundated with flood waters. low temperatures this weekend are forecast to be close toas freezing. the official count from the artment of energy had 3.6en million customers
's flagship store in new york city. it's also investing in technology to beef up it's online presence. "n.b.r.'s" ruben ramirez caught up with macy's c.e.o. terry lundgren in new york this morning and began by asking him how sales are going. both in store and on-line. >> they're both growing and that's the good news for us and while the online business has been spectacular for macy's for several years, we really look at the consumer as an omnichannel consumer. so she comes in, she does her research on her phone. she decides what store she wants to shop. what items she wants to shop for. maybe going back to her desk and pulling the trigger there. so i think that's what happening today. so the line between online and physical stores is blurred. >> reporter: the past several years consumers have opened their wallets around the holidays but come january it seemed that that optimism faded. what are you expecting come january 2013? >> we've had 11 consecutive quarters of consistent growth of sales and earnings at macy's inc. we've found the formula. a lot of retailers depend on january to be a
. meanwhile, the effects of the monster storm are paralyzing much of new jersey andew york city here's an update: four and a half million people are still without power, and it could take another ten days before power is restored. limited flights have re ad atme all of the airports in the new york area.at public schools are still closed in the city, as well as many schools in new jersey. and filling up on gas is the toughest problem of all. gas stations are running dry, and others do not have electricity to pump gas. motorists lined by the hundreds in new jersey, waiting and hoping for fuel. still ahead, we have more on sandy: flood insurance, the cost of getting power turned back on, and the challenge of getting around america's busiest city. >> tom: october marked a pick-up in private hiring. that's the word from payroll processing firm adp. it says u.s. private payrolls grew by 158,000 positions in october. that higher than expected number comes as adp overhauls how it calculates the number by including more companies in its survey. darren gersh reports. >> reporter: the economic
be so much easier. so we're looking at like payment. >> reporter: in new york city, sabrina norrie and kelli space have an idea of their own, called zero bound. if students are struggling to pay debt in dollars, why not pay it through community service? they're still raising money, but once it's up and running, the company will help borrowers get donations in exchange for volunteer work. >> i thought, there's got to be a way we can get creative about this. and being involved in volunteer work, i thought, lets see if we can invest that education of students and alumni back into the community through volunteering. >> reporter: innovations like these have the support of the federal government, in a report last month, the consumer financial protection bureau said if they work, private businesses could play an important role in helping student borrowers pay down their debts. sylvia hall, "n.b.r.," washington. >> susie: for many people the holidays are typically a time to make charitable contributions. americans gave $200 billion to non-profits last year, and half of that came from the w
: that and more tonight on nbr! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the f
to fill 'er up. >> reporter: here in new york city, the long lines and gas rationing are finally gone, but there's more good news. like the rest of the nation, gas is actually cheaper now than before superstorm sandy. a month ago, superstorm sandy shut down refineries in the northeast, delayed oil shipments and left many gasoline stations without power. in some hard hit areas, prices spiked more than ten cents a gallon. but now, the situation has drastically improved here and around the country. regular unleaded costs an average of $3.42 nationwide. that's 12 cents below where it was a month ago. but drivers are still paying about 12 cents more for gas today than a year ago. a big reason is escalating middle east tensions. >> anytime you have that kind of conflict in the middle east, whether it's the israelis or the egyptians, the syrians, it really the disruption of flow, you know. any time you get a problem in the gulf, it's really going to hinder oil prices. >> reporter: if the recent cease-fire between hamas and israel in the gaza strip holds, many think prices at the pump will dr
Search Results 0 to 7 of about 8